Polaris (NYSE:PII) Sets New 12-Month Low on Analyst Downgrade

Polaris Inc. (NYSE:PII)’s stock price reached a new 52-week low on Wednesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $55.50 and last traded at $56.07, with a volume of 91350 shares. The stock had previously closed at $58.11.

Several other analysts have also commented on PII. KeyCorp lowered Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday. Royal Bank of Canada cut their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. DA Davidson dropped their price target on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Truist Financial decreased their price objective on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Robert W. Baird lowered their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Polaris presently has an average rating of “Hold” and an average price target of $84.00.

Hedge Funds Weigh In On Polaris

Large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its position in Polaris by 23.5% during the second quarter. Commonwealth Equity Services LLC now owns 27,957 shares of the company’s stock worth $2,189,000 after buying an additional 5,320 shares during the period. National Bank of Canada FI grew its position in shares of Polaris by 27.9% during the second quarter. National Bank of Canada FI now owns 918 shares of the company’s stock worth $69,000 after acquiring an additional 200 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Polaris by 44.2% in the 2nd quarter. Victory Capital Management Inc. now owns 16,387 shares of the company’s stock valued at $1,283,000 after acquiring an additional 5,021 shares during the period. Arizona State Retirement System boosted its stake in Polaris by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 15,021 shares of the company’s stock worth $1,176,000 after purchasing an additional 277 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Polaris during the 2nd quarter worth $90,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Polaris Trading Down 4.4 %

The business’s 50 day simple moving average is $63.96 and its 200 day simple moving average is $74.64. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 6.59 and a beta of 1.53.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. Polaris’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 EPS. Research analysts anticipate that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.66 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.75%. Polaris’s dividend payout ratio is presently 73.74%.

About Polaris

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.